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Vienna ranks as most liveable city in 2018 displaces Melbourne

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For the first time in the survey history of Economist Intelligence Unit, Austria’s capital, Vienna, has been ranked as the most liveable city out of 140 cities in the world.

A long-running contender to the title, Vienna has succeeded in displacing Melbourne from the top spot, ending a record seven consecutive years at the head of the survey for the Australian city.

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Although both Melbourne and Vienna have registered improvements in liveability over the last six months, increases in Vienna’s ratings, particularly in the stability category, have been enough for the city to overtake Melbourne.

The two cities are now separated by 0.7 of a percentage point, with Vienna scoring a near-ideal 99.1 out of 100 and Melbourne scoring 98.4.

Below is a ranking of the top and bottom cities surveyed, accompanied by the liveability rating for every city.

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Business

Forex inflow under 9 months hits $40.9bn -CBN.

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Between January and September last year, a total foreign exchange inflow of $40.93bn was recorded by the Central Bank of Nigeria.

The inflow of $40.93bn, when compared with the $27.95bn recorded in the first nine months of 2017, represents an increase of $12.98bn.

An analysis of the third quarter economic report of the CBN showed that about $14.15bn passed through the apex bank in the first quarter of last year.



In the second quarter of last year, the CBN recorded foreign exchange inflow of $13.82bn, while the sum of $12.95bn was recorded during the third quarter of 2018.

The report stated that despite the decline in domestic crude oil production, there was an improvement in foreign exchange revenue from oil export in the third quarter of 2018.

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It added that the development was, however, moderated by the significant decline in inflow from non-oil exports.

It read in part, “Aggregate foreign exchange inflow through the CBN amounted to $12.95bn, indicating a 6.3 percent decline below the level at end-June 2018.

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“It, however, showed an increase of 8.1 per cent, over the level in the corresponding period of 2017.

“The decline, relative to the preceding quarter, reflected, mainly, the fall in inflow from non-oil sources.”

The apex bank attributed the increase in outflow relative to the preceding quarter to a 32.2 per cent and 28 per cent increase in public sector  payments and interventions in the foreign exchange market.

“There is no doubt that the CBN’s forex policies have helped the growth of local industries in Nigeria.  Notable among these are the restrictions to access official forex placed on 42 imported items.

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Business

CBN injects $210m into inter-bank market

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In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria, on Tuesday, injected another sum of $210m into the inter-bank foreign exchange market.

Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received $100m, while the Small and Medium Enterprises and the invisibles segments were allocated $55m each.

The Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, restated the bank’s resolve to always meet the request of genuine customers in the various segments of the market.



Recall that on Friday the bank injected $289.76m into retail Secondary Market Intervention Sales and CNY38.70m into the spot and short-tenored forwards of the inter-bank foreign exchange market.

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Meanwhile, the naira on Tuesday continued to exchange at an average of N360/$1 in the Bureau De Change segment of the market.

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In the first half report of the CBN, the regulator stated that it sustained its intervention at the interbank and BDC segments, to engender stability in the foreign exchange market.

Records from the regulator showed that in the half year report of 2018, the CBN increased the frequency of foreign exchange cash sales to the BDCs from twice to thrice per week, and adjusted the selling rate, downward to N357/$.

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